PV GAS successfully organizes the Gas Products Business Conference in 2022
Petrovietnam Gas Joint Stock Corporation (PV GAS) on May 12 organized its 2022 Gas Products Business Conference to evaluate the production and business results of units in the business sector and to discuss sustainable development solutions for gas business activities.
The conference was a forum for business units and specialized departments of PV GAS to update trends and on-going energy market changes, to assess the current business situation, and to exchange and suggest solutions to address political and mechanism difficulties, ensuring successfully to achieve the assigned objectives/tasks by the Corporation in 2022, the development strategy of the units by 2025, a vision to 2035 as well as a 5-year plan for the 2021-2025 period and orientation to 2035 of PV GAS.
The conference heard representatives of the Vietnam Petroleum Institute present a report on the assessment of economic and political situation, forecast changing trends in oil and gas prices, as well as gas products involving production and business of PV GAS; evaluate trends in energy transition, and the use of fossil fuel sources. Moreover at the Conference, PV GAS also summarized the Business Sector’s production and business results of this year’s first 4 months. Particularly, in the first 4 months of 2022, gas consumption reached more than 350 million m3, accounting for approximately 14% of its total gas output; LPG output reached 800,000 tons, equivalent to 130% of the plan and revenue reached more than VND21 trillion, contributing nearly 60% of its total revenue. These results partly reflected the continuous efforts of the whole Corporation in the gas consumption market development strategy.
The reports at the Conference also showed that the impacts of the world’s energy crisis, especially supply issues, price fluctuations, etc., have been significantly affected consumption demand of gas products. In the coming time, the business of gas products at both PV GAS and its units will continue to be affected by many factors, including the high gas price, which will reduce its competitive advantage against alternative fuels, the decline in domestic gas supply, difficulties in importing LNG, etc., so it is necessary to develop solutions to maintain the growth and development momentum of the market.
Based on reports and opinions of the Boards and units, Mr. Pham Van Phong - Deputy General Director of PV GAS on behalf of its leaders recognized and highly appreciated their efforts and results. These results have contributed significantly to the achievement of the overall targets at PV GAS. PV GAS was committed to accompany the units in the sustainable production and business development. At the same time, he required that the specialized departments and units in the gas business sector of PV GAS to recognize changes in the gas products trading market compared to the past and to make decisions for timely adjustment to match them. Now, he recommended that the units should review and perfect regulations and business orientations to optimize operations, take advantage of and promote the overall strength of the units in the sector.
To promote the achieved results in the past time towards sustainable growth, it was necessary to develop solutions to harmonize the benefits between units inside and outside the business sector and with customers.
With the motto "As one team we can go further", from the heart to the action, PV GAS gas product business sector together strives to "Exceed the 2022 production and business plan".